Mumbai, Jan 24: The Rupee today gained over twelve paise against the US Dollar to close firm at 39.45/46 from its previous close of 39.55/56 amid high volatility in the interbank foreign exchange (Forex), triggered by fluctuations in local equity market.
The partially convertible Indian currency, after trading in a wide range band of 39.40 and 39.52 against the greenback, finally settled firm on strong inflows in the forex market. Nevertheless, Rupee was capped against dollar at certain levels during the day on the reported intevention by the Reserve Bank of India (RBI), dealers said. Meanwhile, the Apex Bank today fixed the reference rate at Rs 39.43 per dollar.
The reference rate increased by 13 paise as compared to yesterday's rate of Rs 39.56 per dollar. The six-month forward premium closed marginally higher at 1.93 (1.92) per cent, while annualised premium ended at 1.59 (1.54) per cent. The Indian unit ended weaker at 57.83/84 (57.63/64) against the Euro. Rupee closed weak at 77.32/34 (77.27/28) per unit against the Pound Sterling. However, the Rupee ended at 36.97/98 (37.42) per hundred units, against the Japanese Yen.